- U.S Markets closed higher yesterday.
- Right now U.S futures & Asian markets are lower.
- SGX Nifty is at 17620.
- Yesterday was once again a Fantastic day for the Bulls.
- After Friday's breakout Market showed fresh Expansion and momentum on the higher side.
- 50 DMA of 17516 has been breached decisively yesterday.
- FII's have bought 900 cr yesterday but the rally seemed like they have bought for 9000 crores.
- Now the big question is "What next from here"?
- Generally after 2 days of non - stop rally , big players tend to book profits on the 3rd day.
- Today there are good chances of a Consolidation with mild positive bias.
- Run away rally like yesterday should not be expected.
- I somehow feel Market is expecting some positives In the budget.
- This can be termed as a pre - budget rally for the markets.
- Another Possibility is good corporate results expectations.
- These 2 factors seem to be driving the markets higher.
- We would get better clarity after some days when the event actually happens.
- 17500 PE now has the highest open interest.
- This is because those who sold calls have no option but to sell closer puts to cover their loss.
- India VIX was higher yesterday because the call writers were in fear.
- Nifty might Trade between 17500 to 17750 today.
- stockmarketadvisory.in
- I will not chase the Market today.
- I would look to enter on a 50-70 point dip. My view is only to buy , shorting is not the trade one should take from here.
1. U.S Markets closed lower on Friday. 2. All the indices closed lower. 3. Right now , Dow Futures are lower. 4. Asian Markets are all lower. 5. All the Global Markets are Negative today. 6. From Thursday to Monday Morning , U.S Markets have crashed more than 6%. 7. This is a terrible & an Alarming fall. 8. U.S VIX jumped another more than 20% on Friday. 9. This is the fearful data point. 10. Reason for all this is because of Geopolitical conflicts. 11. Iran - Israel tensions. 12. Japan currency depreciation etc. 13. All this is leading to a flash crash in the Markets. 14. 24500-24400 is a crutial support for nifty. 15. We are likely to open closer to these levels as per Gift Nifty. 16. First hour is the key today. 17. If we do not break the first hour low throughout the day then we might expect a reversal. 18. A further correction may be expected if the first hour low gets taken out. 19. Nifty might trade between 24300 to 24700 today. 20. stockmarketadvisory.in
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